{"id":6045,"date":"2014-03-13T16:17:24","date_gmt":"2014-03-13T16:17:24","guid":{"rendered":"http:\/\/4cd.e16.myftpupload.com\/?p=6045"},"modified":"2014-03-13T16:17:24","modified_gmt":"2014-03-13T16:17:24","slug":"finance-minister-calls-for-the-establishment-of-devt-bank","status":"publish","type":"post","link":"https:\/\/citifmonline.com\/2014\/03\/finance-minister-calls-for-the-establishment-of-devt-bank\/","title":{"rendered":"Finance Minister calls for the establishment of dev\u2019t bank"},"content":{"rendered":"
\"Seth<\/a>
Seth Terkper<\/figcaption><\/figure>\n

Finance Minister, Seth Tekper is calling for the establishment of a development bank.<\/p>\n

According to him, the development bank must have the Exim bank approach and must not necessarily be a state owned bank.<\/p>\n

\u201cWe should be thinking of a development bank not necessarily a state owned but a bank that is deep enough to go into long term financing like mortgages, we don\u2019t have that yet, even if we do it is not deep enough,\u201d he said.<\/p>\n

He was optimistic that the bank\u2019s establishment will tackle crowding out effects in borrowing and high interest rates in the country.<\/p>\n

Government and the private sector have for year\u2019s competed and depended on the same sources for short term borrowing.<\/p>\n

Seth Tekper explained that the bank\u2019s sole purpose will be tackling long term borrowing saying, \u201ctreasury bills we know are popular and till we started going into the sovereign bond,\u00a0the three year and five year bonds the most reliable source of financing for the budget was the treasury bills which have high interest rates and we all know its effects.\u201d<\/p>\n

He added that \u201cgovernment itself must begin to look for a deeper source of financing particularly for the capital budget it is also the case for the private sector they are also depending on this same market.\u201d<\/p>\n

 <\/p>\n

By: Vivian Kai Mensah\/citifmonline.com\/Ghana<\/p>\n","protected":false},"excerpt":{"rendered":"

Finance Minister, Seth Tekper is calling for the establishment of a development bank. According to him, the development bank must have the Exim bank approach and must not necessarily be a state owned bank. \u201cWe should be thinking of a development bank not necessarily a state owned but a bank that is deep enough to […]<\/p>\n","protected":false},"author":5,"featured_media":6048,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[19],"tags":[4],"yoast_head":"\nFinance Minister calls for the establishment of dev\u2019t bank - Citi 97.3 FM - Relevant Radio. 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